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First time Home Buyer giving stats

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Frequent Contributor

Re: First time Home Buyer giving stats

Update:  4/15/19    We should know by the end of the week how Appraisal went and they are estimating the close to be the 30th if all goes well...It's a long rollercoaster process even with a 'better score' but I'll post an update after we hear back from appraisal and of course if all goes well I will let you all know too!     If it doesn't I'll post what they said/what happened so hopefully that helps Smiley Happy

Starting Score: 537
Current Score: 725
Goal Score: 775


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Message 11 of 39
Frequent Contributor

Re: First time Home Buyer giving stats

*update* 04/19   Appraisal went well it was valued where it needed to be and I found out if it is under they can possible decline the loan if the homeowner doesn't lower price on home which to me sounds crazy but now it's all down to the final stages of underwritting so I should know by Tuesday if we are in the clear to close!     Will keep posting!  Smiley Happy

Starting Score: 537
Current Score: 725
Goal Score: 775


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Message 12 of 39
Established Contributor

Re: First time Home Buyer giving stats

good luck keep us posted





Message 13 of 39
Frequent Contributor

Re: First time Home Buyer giving stats

Thank you will do Smiley Happy

Starting Score: 537
Current Score: 725
Goal Score: 775


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Message 14 of 39
Frequent Contributor

Re: First time Home Buyer giving stats

*update*   4/23 got the ALL CLEAR to close so I'll be closing next Tuesday the 30th.....I'll update how it will affect my score after adding it (since I know it will temporarily drop) and if I remember I'll post how quick it was to bounce back a bit (I'm guessing 3 months or so maybe 6 depending on how bad it affects my AAoA)  Smiley Very Happy

Starting Score: 537
Current Score: 725
Goal Score: 775


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Message 15 of 39
Frequent Contributor

Re: First time Home Buyer giving stats

Also I would like to add I had 3 house offers take the higher offer (other than me) and One home Withdrawal their home so this was the 5th house we tried to get since starting in Feb so if you are lucky that you don't have to look or try again I think it could easily be done in a month or less not almost 3 months Haha.

Starting Score: 537
Current Score: 725
Goal Score: 775


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Message 16 of 39
Frequent Contributor

Re: First time Home Buyer giving stats

*update* 06/03/19    So we have the house YAY!   LOL but it hasn't shown on my credit yet therefor I don't know what to put in regards to how it has affected it yet.    I will let you know probably July since the first payment isn't due until this month Smiley Very Happy

Starting Score: 537
Current Score: 725
Goal Score: 775


Take the myFICO Fitness Challenge











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Message 17 of 39
Frequent Contributor

Re: First time Home Buyer giving stats


@Girlzilla88 wrote:

*update* 06/03/19    So we have the house YAY!   LOL but it hasn't shown on my credit yet therefor I don't know what to put in regards to how it has affected it yet.    I will let you know probably July since the first payment isn't due until this month Smiley Very Happy


Congratulations! Seriously, thanks for starting this topic and providing all those updates!

 

I'm going to be looking at homes priced around $300,000 or so in a few years. I'll put 20% down so this matches up pretty well with your mortgage. My middle mortgage score is close to what yours was at approval, so that's really cool to know.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.
Message 18 of 39
Frequent Contributor

Re: First time Home Buyer giving stats

YES on a Side NOTE please if you can do the 20% down so it will save you from having to have I think it's Mortgage Insurance or one of the extra payments they make you pay a month.......If I had it it would have saved me almost 400 a month but I am not that rich to save up 60k to put down ROFL and yes I probably could have gotten higher but I also am new to building credit so my average age was less than a year at the time I applied as well Smiley Very Happy      You may be able to get higher if you have the same score with more length on it Smiley Very Happy

Starting Score: 537
Current Score: 725
Goal Score: 775


Take the myFICO Fitness Challenge











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Message 19 of 39
Frequent Contributor

Re: First time Home Buyer giving stats

I'm so glad to see this is helping that is what I was really hoping Smiley Very Happy

Starting Score: 537
Current Score: 725
Goal Score: 775


Take the myFICO Fitness Challenge











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Message 20 of 39